Calculate Home Loan EMI

Get instant EMI calculations based on your loan amount, interest rate, and tenure. Results update in real-time — supports all Indian banks including SBI, HDFC, ICICI, Axis Bank & more.

Your Home Loan EMI Summary

Monthly Home Loan EMI ₹43,391
Total Amount Payable ₹1,04,13,816
Total Interest Payable ₹54,13,816
Interest to Principal Ratio 108.28%

Calculations use the reducing balance method used by all major Indian banks

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More Home Loan Calculators

Specialised calculators for every home loan need — from bank-specific EMI to eligibility and prepayment planning.

Why Use Our Home Loan EMI Calculator?

Trusted by 1.25 lakh+ users across India — accurate, fast, and completely free.

Bank-Accurate Calculations

Uses the standard reducing balance EMI formula identical to SBI, HDFC, ICICI, and all major Indian banks. Results match official bank calculators.

Interactive Visual Charts

Visualise your entire loan repayment journey through dynamic charts showing principal vs interest split at a glance.

Full Amortization Schedule

Get a detailed year-by-year amortization table showing exactly how much principal and interest you pay each year, and your outstanding balance.

10+ Currency Support

Switch between INR, USD, EUR, GBP, AED and 6 more currencies. Perfect for NRIs planning home loan investments in India.

How to Calculate Home Loan EMI

Calculate your exact monthly EMI in under 30 seconds — follow these simple steps.

Enter Your Home Loan Amount

Type your desired loan amount or drag the interactive slider. Our home loan EMI calculator supports amounts from ₹1 Lakh to ₹10 Crore — covering first homes, luxury properties, and NRI purchases.

Set the Annual Interest Rate

Enter the interest rate from your bank. In 2026, SBI home loans start at 8.40%, HDFC at 8.50%, and ICICI at 8.45%. You can compare multiple rates by changing the value.

Choose Loan Tenure

Select repayment period between 1 and 30 years. Longer tenure means lower monthly EMI but higher total interest. Our calculator helps you find the right balance instantly.

Click Calculate EMI

Hit the green Calculate EMI button to instantly see your monthly EMI, total interest payable, and interest-to-principal ratio. The doughnut chart updates in real time.

Review Amortization Schedule

Click View Amortization Schedule for a year-wise table showing exactly how your loan balance reduces over time. Essential for planning prepayments and tracking progress.

Home Loan Interest Rates 2026 — Major Banks

Current indicative home loan interest rates from India's top banks. Rates vary by credit score, loan amount, and employment type. See full comparison →

Bank Starting Rate (Salaried) Starting Rate (Self-Employed) Max Tenure Calculate
State Bank of India (SBI) 7.25% p.a. 7.50% p.a. 30 years Calculate
HDFC Bank 7.90% p.a. 8.15% p.a. 30 years Calculate
ICICI Bank 8.60% p.a. 8.85% p.a. 30 years Calculate
Axis Bank 8.25% p.a. 8.50% p.a. 30 years Calculate
Kotak Mahindra Bank 7.99% p.a. 8.24% p.a. 20 years Calculate

*Rates are indicative and subject to change. Contact your bank for current offers. Last updated: June 2026.

📉 Compare All Bank Rates 2026 →

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Frequently Asked Questions

Everything you need to know about home loan EMI calculation, bank rates, and loan planning.

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EMI (Equated Monthly Installment) is the fixed monthly payment you make to repay your home loan. Each EMI contains both principal and interest components. The formula is:

EMI = P × r × (1+r)^n ÷ ((1+r)^n − 1)

Where P = Principal loan amount, r = Monthly interest rate (annual rate ÷ 12 ÷ 100), and n = Total number of monthly payments (tenure in years × 12). All major Indian banks use this reducing balance method.

For a ₹50 lakh home loan at 8.5% p.a. for 20 years, the monthly EMI is approximately ₹43,391. Total amount paid = ₹1,04,13,816. Total interest = ₹54,13,816.

  • At 8.40% (SBI rate): EMI ≈ ₹43,109 | Total interest ≈ ₹53.4 lakh
  • At 8.50% (HDFC rate): EMI ≈ ₹43,391 | Total interest ≈ ₹54.1 lakh
  • At 9.00%: EMI ≈ ₹44,986 | Total interest ≈ ₹57.9 lakh

Use our calculator above to check EMI for your exact loan amount and interest rate.

SBI home loan interest rates in 2026 start from:

  • Salaried employees: 8.40% p.a. onwards
  • Self-employed: 8.65% p.a. onwards
  • Women borrowers: 0.05% concession on applicable rate
  • High CIBIL score (750+): Additional 0.10% discount

Use our SBI Home Loan Calculator for exact EMI calculations at current SBI rates.

HDFC Bank home loan rates in 2026:

  • Salaried: 8.50% – 9.25% p.a.
  • Self-employed: 8.75% – 9.50% p.a.
  • Women borrowers: 0.05% concession
  • Flexible EMI options: Step-up EMI, part-payment facility

Try the HDFC Home Loan Calculator to calculate your exact EMI.

Banks typically allow EMI up to 40–50% of your monthly take-home salary. Approximate eligibility:

  • ₹30,000/month salary: Eligible for ₹18–22 lakh loan
  • ₹50,000/month salary: Eligible for ₹30–38 lakh loan
  • ₹75,000/month salary: Eligible for ₹48–58 lakh loan
  • ₹1,00,000/month salary: Eligible for ₹65–75 lakh loan

For exact calculation, use our Home Loan Eligibility Calculator.

For ₹50 lakh at 8.5% interest rate, different tenures give:

  • 10 years: EMI ₹61,993 | Total interest ₹24.4 lakh
  • 15 years: EMI ₹49,239 | Total interest ₹38.6 lakh
  • 20 years: EMI ₹43,391 | Total interest ₹54.1 lakh
  • 30 years: EMI ₹38,446 | Total interest ₹88.4 lakh

Shorter tenure = less total interest but higher monthly EMI. Choose based on your monthly budget.

Home loan borrowers can claim significant tax deductions in India:

  • Section 24(b): Up to ₹2 lakh deduction on interest paid (self-occupied property)
  • Section 80C: Up to ₹1.5 lakh deduction on principal repayment
  • Section 80EEA: Additional ₹1.5 lakh for first-time home buyers (affordable housing)

Read our complete guide on Home Loan Tax Benefits 2026 for detailed information.

Yes, most lenders allow home loan prepayments. Benefits include:

  • Reduced total interest outgo (can save lakhs over the loan term)
  • Shorter effective loan tenure
  • Improved debt-to-income ratio

RBI regulations prohibit prepayment penalties on floating rate home loans for individual borrowers. Fixed rate loans may carry nominal charges. Use our Prepayment Calculator to see how much you can save.

Our calculator uses the exact EMI formula mandated by RBI and used by all Indian banks. Results match SBI's official calculator, HDFC's calculator, and all major bank EMI calculators within rounding precision.

Minor variations in actual bank statements may occur due to: processing fees added to loan amount, rounding at different decimal places, interest rate changes for floating rate loans, and insurance premiums bundled with EMI.

Standard documents required across most Indian banks:

  • Identity proof: Aadhaar Card, PAN Card, Passport, or Voter ID
  • Address proof: Utility bills, Aadhaar, or Passport
  • Income proof: Last 3 months salary slips, Form 16, ITR for 2 years
  • Bank statements: Last 6 months
  • Employment proof: Appointment letter or employment certificate
  • Property documents: Sale agreement, approved building plan, NOC

Self-employed applicants need additional documents: business registration proof, P&L statement, and balance sheet.

GetInfoToYou Financial Tools Team
✍️ Published: January 2024 🔄 Last Updated: June 2026 📍 India

About This Home Loan EMI Calculator

Our home loan EMI calculator is built to provide the most accurate EMI calculations available online — using the same reducing balance formula mandated by the Reserve Bank of India (RBI) and adopted by every scheduled commercial bank in India.

Who Should Use This Calculator?

This calculator is designed for first-time home buyers researching affordability, existing borrowers comparing refinancing options, NRIs planning property investments in India, and financial planners helping clients with housing loan decisions.

How Is Our EMI Calculator Different?

Unlike many online tools, our calculator provides real-time results without page reloads, supports a full amortization schedule showing year-by-year loan progress, and works seamlessly on all devices. We also offer dedicated calculators for SBI home loans and HDFC home loans with bank-specific interest rate presets.

Disclaimer

EMI calculations are indicative and based on the standard formula. Actual EMIs may vary based on your bank's policies, credit score, loan processing fees, and applicable interest rate. Always confirm final terms with your lender before signing.